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Linksys wrt54g v8 slow internet speed

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Hello there! Thanks for tuning in! This week on slow internet adventures: :)

I have a wireless router, Linksys WRT54G v8, connected to my cable modem. I am receiving very slow speeds. My desktop is directly hooked up to the router. I'm an avid gamer and know that the speed is terrible because when my speed is good my games give me a 'ping' or latency of 20-40. When I 'ping' my games the servers list at 1000+ which is stone age.

What I have done is: suspected neighbors 'borrowing' wireless.
Set up password to no effect.
Found out that roommates weren't even connected to our network.
So it has just been me.
I attempted to update the firmware (?) but the file from Linksys is a .bin and well I don't know how to open it.

I'd be happy to provide any information needed:
Running WINXP

Any help or suggestions would be great.
Also, if this is just a bad router any low range suggestions? Reviews seem...conflicting.

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The Admiral

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I have one and love it.

Have you done anything as simple as unplugging it for 30 seconds and plugging it back in? This allows the memory to be refreshed and clear out all the gunk that may be slowing down your internet.
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